Thursday, March 4, 2010

Will Greece Start Selling Its Islands to Get Out of Debt?

Posted By on Thu, Mar 4, 2010 at 1:06 PM

Greek islands for sale
  • You have 30 days to vacate your shell.
Holy κατβ! You guys know all about the Greek financial meltdown (that came close to destroying Europe!) brought on by swashbuckling international hedge funds monkeying around (again) with credit default swaps? Betting against the survival of the Greek economy? Yeah, sure you have.

Well, yesterday, the Greek government announced drastic measures to right the ship, with huge spending cuts coupled by big tax increases (sucks to be Greek, right about now.) But that's not all the Greek government should be doing, suggested two German politicians, in light of a proposed Berlin-backed bailout of the birthplace of Western civilization: "Greece owns buildings, companies and uninhabited islands, which could all be used for debt redemption," said politician Josef Schlarmann, in a very thick, sinister German accent. The Greeks don't seem all that interested in the suggestion.

So while it's not likely this will happen, if anyone's interested in pooling together to buy a timeshare on the stretch of beach where Aphrodite first came ashore, I've been looking to expand my portfolio into real estate. Call me.

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